The restructuring of the Board of ONGC has been approved in the context of emerging trends in the energy sector and national energy priorities.
Government of India had set up a Search-cum-Selection Committee (SCSC) in February, 2022 for filling up the post of CMD, ONGC. The SCSC was chaired by Chairperson, PESB with Secretary, Petroleum and Natural Gas and Shri B Ashok, ex-Chairman, IOCL as members. The SCSC subsequently submitted its recommendations.
After consideration of the recommendations of the SCSC Government has decided as under:
- Appointment of Shri Arun Kumar Singh, ex-CMD, BPCL as the Chairman of ONGC for a three year tenure with effect from the date of assumption of charge.
- Board level changes w.e.f. 01.03,2023:-
- Creation of a post of Director [Production] on the Board of ONGC after merger of the posts of Director [Onshore] and Director [Offshore].
- Creation of a post of Director [Strategy & Corporate Affairs] on the Board of ONGC.
The restructuring of the Board of ONGC has been approved in the context of emerging trends in the energy sector and national energy priorities. The medium and long term strategic goals of ONGC require it to deliver in respect of enhanced production, increased exploration with an emphasis on technology and pace of implementation, partnerships with reputed sectoral firms to leverage best in class technology, efficient and engaged management of JVs, partnerships and subsidiaries, effective capital allocation, portfolio review, management and expansion of overseas assets and development of a leadership pipeline.
The revamped Board of Directors is expected to play a pivotal role in these tasks and work towards realizing synergies and ensuring enhanced collaboration within the organisation and also with relevant external stakeholders. (PIB)
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